Cornish clothing brand Seasalt has unveiled ambitious new expansion plans.
The company is planning to open 40 new stores across the UK over the next five years and create an additional 250 jobs in Cornwall following a £16 million investment from investment house, BGF, and Santander Corporate & Commercial.
In the last three years, Seasalt’s turnover has grown from £28 million to £51 million. The company now employs 487 people in Cornwall making it one of the largest private employers in the county.
Neil Chadwick, chairman and co-founder of Seasalt, commented: “The success we’ve seen over the last few years has been underpinned by our love for our Cornish heritage and the landscape that continues to inspire us. Our team in Falmouth and across the south west has grown significantly as the business has grown, and we’re proud to play our part in supporting our wider community.
“With this investment, we’ll be able to continue that journey; both by creating new job opportunities in the region and developing career prospects for our current employees.”
This investment will mark the first of its kind for BGF, as it is the first investment it has made into a Cornish business.
Ned Dorbin of BGF commented: “Seasalt is exactly the type of business we look to support: a creative and entrepreneurial brand, with a management team who are passionate about and have a clear plan to continue growing the business.
“This investment is testament to the quality of the brand that has been built, with sustained growth over the last five years. We’re delighted to be supporting them as they continue to grow.”